Basic Life and AD&D (with buy-up)

Life insurance helps protect your family from a sudden loss of income in the event of your death. Because this protection is an important part of your overall financial plan, ABC Company provides you with Basic Life and Accidental Death and Dismemberment (AD&D) coverage that pays a benefit to your beneficiaries in the event you die or suffer specific injuries as a result of an accident.

If you want more coverage, you may purchase Voluntary Life insurance for yourself, your spouse, and your children at favorable rates. Amounts over $200,000 or enrolling after annual enrollment will require Evidence of Insurability (EOI).

Benefits reduce beginning at age 65. Coverage ends when you terminate your employment with ABC Company. You have the option to take your coverage with you, but rates may vary.

Plan Provision Basic Life and Basic AD&D Voluntary Life
Employee Spouse Child
Amount Covered 1x annual base earnings Increments of $10,000 Increments of $5,000 Increments of $1,000
Maximum Coverage $1,000,000 $1,000,000 $500,000 $10,000
Guaranteed Issue Amount $500,000 $300,000 $30,000 $10,000